Why Do You Need A Financial Advisor?

A financial advisor has both the knowledge and the time to provide an in-depth unbiased guidance on investment products that are best suited for achieving our financial goals.

Some people are capable of managing their investments well – they have educated themselves quite well and understand the jargon and how the markets work. However, there are others who find that they are faced with either a knowledge gap or a lack of time in managing their investments.

Unfortunately, it is a very common tendency, especially in India, for people (even those who do not understand the market) to not have financial advisors and to believe that they can manage their own money better. One of the reasons for this practice probably stems from horror stories of financial advisors „stealing? their clients? money or giving really bad advice that led to losses for the investors.

Everyone dispensing advice is not a Financial Advisor – let?s be very clear on that. Just like every video you see on YouTube on “home remedies” is not expert Siddha or Ayurveda solutions and everyone who tinkers under a car?s hood is not an expert mechanic. There are many well-meaning family members, insurance agents, or brokerage firms who may give half-baked advice on what to do with your money and their suggestions might not be the wisest options out there - either because they are motivated by personal gain (in the form of commissions) or because they rely on obsolete knowledge and archaic systems.

Financial Advisors, on the other hand, have the right tools at their disposal. They have the time and take the initiative in helping you decide everything – from what your financial goals are and what you need to do when to achieve those goals. Financial advisors have a much better grasp of the market?s pulse and constantly track their customer?s investments. They periodically review your goals and how close you are to achieving them and accordingly make changes to your investment portfolio, if needed. They are neutral experts, not affiliated to any one fund or bank, who can therefore, call it as it is and provide expert consultancy service to their only stakeholder – you.